September 30, 2020

EgyptAir to obtain EGP 3B loan


ArabFinance: Egypt’s finance ministry will guarantee long-term financing of EGP 3 billion for EgyptAir, according to a law issued by the presidency, Ahram Online reported on Septzmber 29th.

The financing will be obtained from the Central Bank of Egypt, the news website added.

In June, the national carrier was in negotiations with the National Bank of Egypt and Banque Misr over the loan.

The facility aims to finance part of the national carrier's external debt, the company's chairman Mohamed Rushdi Zakaria said back then.

The ministry will, under a separate law issued by the presidency, guarantee an EGP 1 billion loan for the Egyptian Holding Company for Airports and Air Navigation, Ahram Online highlighted.

arabfinance


Categories : aviation

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